CSO: Milk price decreased by 27.5% in 2023
Source: The DairyNews
Newly released figures from the Central Statistics Office (CSO) highlight a challenging year for dairy farmers, with a substantial 27.5% drop in milk prices in 2023 compared to the previous year.
The Annual Agricultural Output Price Index registered an 8.2% decrease, while the Annual Agricultural Input Price Index saw a 5.5% decline during the same period.
The output price indices shed light on varied trends across agricultural sectors. Sheep prices experienced a 1.7% decline, while pigs and potatoes witnessed a notable rise of 19.1%. Eggs marked an upswing of 15.1%, and cattle prices increased by 3.4%.
Examining annual input price indices, significant decreases were recorded in fertiliser (-31%) and energy (-3.5%), contrasting with noteworthy increases in plant protection products (+8.8%), seeds (+7%), and veterinary expenses (+6.1%).
Further analysis reveals an overall 2.9% fall in annual terms of trade compared to 2022.
The CSO's monthly Agricultural Price Indices for December 2023 offer additional insights. Over the year, input prices saw substantial reductions in fertiliser (-47.6%), feed (-13.9%), and energy (-5.8%). Output prices, on the other hand, experienced significant declines in milk (-39%), cereals (-31.6%), and poultry (-7.6%). Notable increases were observed in potatoes (+78.6%) and vegetables (+23.0%).
On a monthly basis, the Agricultural Output Price Index for December showed a 3.3% increase compared to November 2023. Conversely, the Agricultural Input Price Index for December 2023 marginally decreased by 0.7% from November 2023.
Dr. Grzegorz Glaczynski, a statistician in the CSO's agriculture division, commented on the data, emphasizing the considerable impact of a 5.5% drop in annual agriculture input prices, primarily driven by significant reductions in fertiliser (-31%) and energy (-3.5%). The output price indices reflected an 8.2% annual decrease, largely influenced by a substantial fall in milk prices (-27.5%).
While the Agricultural Output Price Index remained relatively stable throughout 2023, it experienced a 3.3% rise in December compared to November. Monthly growth was evident in cattle and milk prices, increasing by 5.1% and 5%, respectively. However, pig prices saw a decline of 2.5% in December compared to November.
The complex dynamics captured in these indices underscore the economic challenges faced by dairy farmers and the broader agricultural landscape in the evolving market conditions of 2023.
The output price indices shed light on varied trends across agricultural sectors. Sheep prices experienced a 1.7% decline, while pigs and potatoes witnessed a notable rise of 19.1%. Eggs marked an upswing of 15.1%, and cattle prices increased by 3.4%.
Examining annual input price indices, significant decreases were recorded in fertiliser (-31%) and energy (-3.5%), contrasting with noteworthy increases in plant protection products (+8.8%), seeds (+7%), and veterinary expenses (+6.1%).
Further analysis reveals an overall 2.9% fall in annual terms of trade compared to 2022.
The CSO's monthly Agricultural Price Indices for December 2023 offer additional insights. Over the year, input prices saw substantial reductions in fertiliser (-47.6%), feed (-13.9%), and energy (-5.8%). Output prices, on the other hand, experienced significant declines in milk (-39%), cereals (-31.6%), and poultry (-7.6%). Notable increases were observed in potatoes (+78.6%) and vegetables (+23.0%).
On a monthly basis, the Agricultural Output Price Index for December showed a 3.3% increase compared to November 2023. Conversely, the Agricultural Input Price Index for December 2023 marginally decreased by 0.7% from November 2023.
Dr. Grzegorz Glaczynski, a statistician in the CSO's agriculture division, commented on the data, emphasizing the considerable impact of a 5.5% drop in annual agriculture input prices, primarily driven by significant reductions in fertiliser (-31%) and energy (-3.5%). The output price indices reflected an 8.2% annual decrease, largely influenced by a substantial fall in milk prices (-27.5%).
While the Agricultural Output Price Index remained relatively stable throughout 2023, it experienced a 3.3% rise in December compared to November. Monthly growth was evident in cattle and milk prices, increasing by 5.1% and 5%, respectively. However, pig prices saw a decline of 2.5% in December compared to November.
The complex dynamics captured in these indices underscore the economic challenges faced by dairy farmers and the broader agricultural landscape in the evolving market conditions of 2023.
